Mr. Ajai Chopra:

Look, you know, that is a phrase that is often used, and perhaps even by myself in my own biography, but I think it overstates things. As I said earlier, this was very much a team effort. But, I think, you know, the important thing is much of the programme was designed by the Irish authorities. The national recovery plan was put forward by the previous Government, and you know, as we have said, the subsequent Government modified a few elements of it but the fundamental structure remained.

I think, you know, even on the banking side, I think, we very much advocated doing an asset quality review because that's not something that had been done in the previous PCAR exercise but, you know, once we advocated that, the Irish authorities were full force behind that. And then, you know, the actual design of that exercise, hiring BlackRock, doing that exercise was purely Irish with us just, sort of, being on the sidelines. So I think a much more accurate description is that this was an Irish home-grown home-designed programme.